Chicago Bridge & Iron Company
| Chicago Bridge & Iron Company NV | |
|---|---|
| legal form | Naamloze vennootschap |
| ISIN | US1672501095 |
| founding | 1889 |
| resolution | 2018 |
| Reason for dissolution | Merger with McDermott International |
| Seat |
The Hague , Netherlands
|
| management | Philip K. Asherman |
| Number of employees | 42,100 |
| sales | 10.7 billion US dollars |
| Branch | Plant construction |
| Website | www.cbi.com |
| As of February 19, 2018 | |
The Chicago Bridge & Iron Company (CB&I) was a Dutch-American, international plant manufacturer of petrochemical plants with headquarters in The Hague and operational headquarters in The Woodlands , Texas . The company has also been involved in many liquefied natural gas and power plant projects.
history
The company was founded in Chicago in 1889 when Horace E. Horton, owner of the Chicago Bridge & Iron Company , merged with George and William Wheelock of the Kansas City Bridge and Iron Company . After initially working in bridge construction, the company later switched to tank production. In 1996, CB&I was taken over by Praxair , who spun off the company in 1997.
In 2007, CB&I took over Lummus from ABB . In 2011 the licensing business for petrochemical processes from Royal Dutch Shell was added.
With the takeover of the Shaw Group in February 2013, CB&I became one of the world's largest engineering procurement construction companies.
At the end of fiscal 2014, CB&I had orders valued at $ 30.4 billion on their order books.
In 2016 the CB&I subsidiary "CB&I Stone & Webster" went to Westinghouse Electric Company for 229 million US dollars . "CB&I Stone & Webster" comprised the former Stone & Webster business for nuclear energy applications, which was taken over by CB&I as part of the acquisition of the Shaw Group. Westinghouse's purchase of "CB&I Stone & Webster" contributed significantly to the financial problems of Westinghouse Electric Company, which culminated in Westinghouse's bankruptcy filing in March 2017. "CB&I Stone & Webster" was involved in several nuclear power plant construction projects, which are severely affected by cost overruns.
In May 2018, the merger of CB&I with McDermott International was announced. The merged company has since acted as McDermott and the listing of the previous CB&I was discontinued.
developments
CB&I developed the first floating roof tank for the oil industry (1923), the first spherical pressure vessel (1923), the first double-hulled tank for liquid gas (1958), the largest water tank made of steel (1986), the highest vacuum distillation column (1999) and the largest heat accumulator in the world (2009).
Individual evidence
- ↑ Executive Management Team
- ↑ a b 2016 Financial Annual Report , February 28, 2017, accessed February 19, 2018.
- ↑ http://www.cbi.com/contact
- ↑ ABB sells Lummus Global to CB&I , August 27, 2007 (PDF; 68 kB)
- ↑ CB&I Acquires 100% Interest in CDTECH , January 3, 2011
- ↑ History ( Memento of the original dated May 7, 2015 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Annual Report 2014 as Form 10-K , Annual Report 2014 of the Chicago Bridge & Iron Company NV
- ^ Toshiba Could Lose Billions From Troubled US Nuclear Power Deal. The New York Times, December 27, 2016, accessed April 20, 2017 .
- ↑ mcdermott-investors.com: McDermott Completes Combination with CB&I. Accessed June 10, 2018 .
- ^ Reuters.com: McDermott, Chicago Bridge & Iron shareholders approve merger. Accessed June 10, 2018 .
